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CapitaLand Mall Trust reports higher revenue, income for 2015

CapitaLand Mall Trust's revenue and income rises amid high occupancy at its malls and increased shopper traffic.

SINGAPORE: CapitaLand Mall Trust (CMT) on Friday (Jan 22) reported higher revenue and income for 2015.

Occupancy at its malls remained high at 97.6 per cent in December, while shopper traffic increased. Despite the slowing economy, CMT saw distributable income rise 4.4 per cent to S$392 million, from S$375 million in 2014.

Tenants at CMT's malls had a relatively good year, with sales per square foot rising 5.3 per cent. Meanwhile, its shopper traffic rose 4.9 per cent year-on-year.

Distribution per unit for FY 2015 was 11.25 cents, a 3.8 per cent increase from the DPU of 10.84 cents in FY 2014.

The company attributed its financial results to the acquisition of Bedok Mall in October, as well as its sale of Rivervale Mall in December, where it gained S$72.7 million.

CMT is Singapore's largest owner of retail space, with many of its shopping malls located near transport hubs like MRT stations. Its properties include Tampines Mall, Bugis Junction and Plaza Singapura.